1066 Henderson St Galesburg, IL 61401

This exceptional Galesburg, Illinois retail property presents a compelling investment opportunity. The 3,682 square foot building, constructed in 1973 and renovated in 2021, sits on a 47,193 square foot lot and boasts 75 parking spaces. Currently leased to Steak n Shake under a triple-net (NNN) lease with a corporate guarantee, the property offers a remaining lease term of approximately 3.5 years, with a potential for extension. The lease commenced in September 1973 and is set to expire August 31, 2024. The property features a drive-thru and is strategically located next to a McDonald's, benefiting from high visibility and traffic. The asking price is $950,000, representing a price per square foot of $258.01 and a current cap rate of 4.41%. The property is zoned B-2 and offers a strong pro-forma NOI of $41,900. This fee-simple ownership opportunity provides a stable income stream with minimal landlord responsibilities, making it an attractive addition to any portfolio. The property's long history with the tenant, since 1973, speaks to its enduring appeal and location strength. The substantial lot size, including over 36,000 square feet of asphalt, further enhances the property's value and potential.